Janney Montgomery Scott LLC Sells 28,271 Shares of Discover Financial Services (NYSE:DFS)

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Janney Montgomery Scott LLC decreased its holdings in shares of Discover Financial Services (NYSE:DFS) by 42.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,501 shares of the financial services provider’s stock after selling 28,271 shares during the period. Janney Montgomery Scott LLC’s holdings in Discover Financial Services were worth $1,929,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Thompson Investment Management Inc. boosted its holdings in Discover Financial Services by 4.0% in the second quarter. Thompson Investment Management Inc. now owns 71,823 shares of the financial services provider’s stock worth $3,598,000 after acquiring an additional 2,776 shares in the last quarter. Creative Financial Designs Inc. ADV bought a new position in Discover Financial Services in the second quarter worth approximately $333,000. Transform Wealth LLC bought a new position in Discover Financial Services in the second quarter worth approximately $250,000. Duncker Streett & Co. Inc. boosted its holdings in Discover Financial Services by 72.3% in the second quarter. Duncker Streett & Co. Inc. now owns 43,222 shares of the financial services provider’s stock worth $2,165,000 after acquiring an additional 18,130 shares in the last quarter. Finally, Barnett & Company Inc. boosted its holdings in Discover Financial Services by 18.0% in the second quarter. Barnett & Company Inc. now owns 28,475 shares of the financial services provider’s stock worth $1,426,000 after acquiring an additional 4,350 shares in the last quarter. Institutional investors own 82.64% of the company’s stock.

In other news, EVP Robert Andrew Eichfeld acquired 12,650 shares of Discover Financial Services stock in a transaction on Wednesday, May 6th. The stock was acquired at an average cost of $39.50 per share, with a total value of $499,675.00. Following the completion of the acquisition, the executive vice president now owns 33,454 shares in the company, valued at $1,321,433. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.55% of the stock is currently owned by corporate insiders.

DFS has been the topic of several recent research reports. Morgan Stanley increased their price target on Discover Financial Services from $56.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, June 8th. Royal Bank of Canada increased their price objective on Discover Financial Services from $42.00 to $61.00 in a research note on Wednesday, June 3rd. Deutsche Bank lowered their price objective on Discover Financial Services from $72.00 to $55.00 and set a “hold” rating for the company in a research note on Friday, April 24th. Piper Sandler increased their price objective on Discover Financial Services from $49.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 20th. Finally, JMP Securities increased their price objective on Discover Financial Services from $48.00 to $58.00 and gave the stock a “market outperform” rating in a research note on Friday, July 24th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $62.93.

Shares of DFS opened at $49.43 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.26 and a debt-to-equity ratio of 2.70. The company has a market capitalization of $15.45 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 9.38 and a beta of 1.88. The stock has a 50 day moving average of $50.50 and a 200 day moving average of $53.23. Discover Financial Services has a 12 month low of $23.25 and a 12 month high of $90.72.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported ($1.20) EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($1.25). The business had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.63 billion. Discover Financial Services had a net margin of 7.65% and a return on equity of 10.45%. As a group, equities research analysts predict that Discover Financial Services will post 0.77 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend is Wednesday, August 19th. Discover Financial Services’s dividend payout ratio (DPR) is 19.38%.

Discover Financial Services Profile

Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.

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Institutional Ownership by Quarter for Discover Financial Services (NYSE:DFS)

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